DigitalOcean (NASDAQ:DOCN) Now Covered by Analysts at Canaccord Genuity


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Canaccord Genuity began coverage on shares of DigitalOcean (NASDAQ:DOCN) in a research report released on Monday morning, The Fly reports. The firm issued a buy rating and a $55.00 target price on the stock.

Several other research firms have also recently issued reports on DOCN. Bank of America began coverage on DigitalOcean in a research note on Monday. They issued a buy rating and a $50.00 target price on the stock. Oppenheimer began coverage on DigitalOcean in a research report on Wednesday, April 14th. They set an outperform rating and a $55.00 price objective on the stock. The Goldman Sachs Group began coverage on DigitalOcean in a research report on Monday. They set a buy rating and a $101.00 price objective on the stock. Finally, Barclays initiated coverage on DigitalOcean in a research report on Monday. They set an overweight rating and a $57.00 price objective on the stock. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $58.20.

NASDAQ DOCN opened at $42.96 on Monday. DigitalOcean has a 1 year low of $36.65 and a 1 year high of $46.35.

In related news, major shareholder Access Industries Holdings Llc bought 2,127,659 shares of the firm’s stock in a transaction on Thursday, March 25th. The stock was acquired at an average cost of $47.00 per share, for a total transaction of $99,999,973.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.

About DigitalOcean

DigitalOcean Holdings, Inc operates a cloud computing platform that offers infrastructure and platform tools for developers, start-ups, and small and medium-sized businesses in North America, Europe, Asia, and internationally. It offers infrastructure solutions across compute, storage, and networking fields, as well as managed application, container, and database offerings to developers.

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Analyst Recommendations for DigitalOcean (NASDAQ:DOCN)

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